GRANT FOR PROSPECTING
(By Telegraph—Press Association.)
INVERCARGILL, February 16.
"I have no hesitation in saying that I am prepared to recommend Cabinet 1o grant a sum of £1000 for further prospecting of the-mine, and I have sufficient confidence'in my colleagues ; to believe that they will agree to the grant," said the Minister of Mines (the Hon. P. .C. Webb) to the directors of King Solomon Deep Lead, Ltd., at Waikaia, today, after he had inspected the mine and heard representations for a grant or subsidy to allow the company to proceed with further prospecting of areas which it was believed might yield good results and enable "the company ,to recover its financial position.
The Minister announced that the grant would be conditional on the company making available for prospective work a similar,amount of money and on repayment of the grant if gold i was found before any further dividends j were declared. •
Mr. Webb instructed the district mining inspector to forward a report to Wellington immediately, and said he would bring the matter before Cabinet at the first; opportunity.
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Bibliographic details
Evening Post, Volume CXXIII, Issue 40, 17 February 1937, Page 6
Word Count
179GRANT FOR PROSPECTING Evening Post, Volume CXXIII, Issue 40, 17 February 1937, Page 6
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